CBF Customer Simulation Period April and May 2018 · Customer Simulation Period April and May 2018...
Transcript of CBF Customer Simulation Period April and May 2018 · Customer Simulation Period April and May 2018...
CBF
Customer Simulation Period April and May 2018
Guideline
March 2018
Document Number: 7202
This document is the property of Clearstream Banking AG, Frankfurt (“Clearstream Banking” or “CBF”) and
may only be changed with prior written consent obtained from Clearstream Banking. The information in this
document is subject to change without notice and does not represent any obligation on the part of
Clearstream Banking, a subsidiary or other affiliate of Clearstream International S.A.
© Copyright Clearstream Banking AG, Frankfurt (2017). All rights reserved.
Clearstream Banking AG, Frankfurt, is a Deutsche Börse Group company.
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Content
1. Introduction ...................................................................................................................... 5
2. Scope of the customer simulation ..................................................................................... 6
2.1 Preparation of the customer simulation ....................................................................................... 6 2.2 CBF customer simulation calendar............................................................................................... 7
3. CBF Customer Simulation environment (IMS23) .............................................................. 9
3.1 Stock Exchange transactions (CCP / non-CCP) ............................................................................ 9
4. Execution of dedicated test cases ................................................................................... 10
4.1 Focus Days for corporate actions ................................................................................................ 11 4.1.1 Redemption (REDM) ................................................................................................................. 12 4.1.2 Bonus Share (BONU) ............................................................................................................... 14 4.1.3 Dividend (DVCA) ........................................................................................................................ 16
4.2 Cash Forecast ............................................................................................................................... 18 4.3 T2S Auto-Coll on main account ................................................................................................... 19 4.4 KUSTA Data Carrier “CBF Customers” ....................................................................................... 20 4.5 Taxbox ........................................................................................................................................... 21
5. Contact ............................................................................................................................ 22
Appendix A - CBF processing day in customer simulation .................................................... 23
Appendix B - T2S Deployment Schedule ............................................................................... 28
Appendix C – Setup of domestic OTC settlement instructions ............................................... 30
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1. Introduction
Clearstream Banking Frankfurt (CBF) will offer a customer simulation period and test cases dedicated to the
enhancements developed by CBF for TARGET2-Securities (T2S) services and the service updates of existing
CBF functionality. These test cases consider mainly the processing between CBF and T2S when the
functionality might impact CBF customers acting in ICP and / or DCP mode. The test cases set up by CBF will
support the simulation of business cases where specific environment requirements are necessary. In
addition, customers can execute test cases based on their own needs using the CBF Customer Simulation
environment (IMS23).
The participation in this simulation is optional and is not a prerequisite for admission to production for the
launch dates of the CBF Release on 7 May and the T2S Release 2.0 on 11 June 2018.
In the period from 16 April to 4 May 2018 customers can execute test cases related to the modifications in
the CBF software. Customers who would like to execute dedicated test cases were requested to register by
23 March 2018. The related registration form is available on the Clearstream website.
Customers acting in DCP mode might require additional testing for their procedures with T2S using the T2S
Pre-Production Environment (UTEST). These customers must consider possible CBF downtimes of IMS23
while executing their test cases.
The functional details about the envisaged changes is available in Announcement D18012 “CBF Release
Information May and June 2018”.
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2. Scope of the customer simulation
A few functional modifications in CBF software related to TARGET2-Securities (T2S) services require a
dedicated test setup. Therefore, CBF will offer a customer simulation period, with all software updates
induced by CBF, starting as of 16 April 2018. Additionally, customers can also execute test cases based on
their own requirements.
The content and period of the simulation for the CBF and T2S-related enhancements are combined for the
CBF Release May and June 2018. In line with the functional description described in Announcement D18012
“CBF Release Information May and June 2018” the following test cases will be supported.
Corporate Actions Processing (KADI)
CBF will execute the events redemption, dividend payment and bonus share.
For this, “Focus Days” are scheduled in April and May 2018.
Cash Forecast reporting
CBF will maintain a link to the T2CUST1 environment that allows liquidity transfers towards UTEST.
This end-to-end test will be supported from 17 to 26 April 2018.
T2S Auto-Coll on main account
Customers who would like to participate in the upgraded service and require testing can request a
test window to allow a transition of the main account. The test window will be agreed on by the
involved parties (T2S, NCB and CSDs).
KUSTA Data Carrier “CBF Customers”
No dedicated registration is required as the test files will be made available on the Clearstream
website on 23 April 2018.
Taxbox
No dedicated registration is required, if the customer is already listed in the related routing table.
CBF will facilitate the technical data transfer between Taxbox participants.
More details can be found in the related sections of this document.
2.1 Preparation of the customer simulation
According to the ECB planning, the updated software for T2S Release 2.0 will be implemented on 2 April 2018
in the T2S Pre-Production Environment (UTEST). CBF will align the availability of the enhanced software in
the CBF Customer Simulation environment (IMS23) accordingly.
Before the customer simulation can be executed a downtime from 26 March to 13 April 2018 is scheduled in
IMS23. During this period, CBF will create additional security holdings on customer accounts for dedicated
test cases, if requested. The registration form was published on the Clearstream website on 22 February
2018. It was requested to be returned by 23 March 2018.
Starting 9 April 2018, the CBF T2S Settlement Functionality Team will modify the account settings and
conduct quality checks. Customers who are connected to UTEST and receive (settlement) reporting might
notice instruction flows between CBF and T2S from setup activities.
Between 9 and 13 April 2018, CBF will collect existing holdings in the predefined securities from customer
accounts and redistribute them via CBF account 4424 to the respective CBF main account (xxxx 000). Once
the holdings are set up, customers acting in ICP mode can verify them via the CASCADE Online functionality
(HOST / PC) or MT535 Statement of Holding, if subscribed in IMS23. In this timeframe, customers must not
enter test cases or transmit instructions via an automated connectivity channel towards IMS23 or UTEST. In
addition, during this period, the CASCADE Online functionality (HOST / PC) must not be used. This will allow
the CBF T2S Settlement Functionality Team a reconfiguration of IMS23 in time.
1 Test environment of National Central Banks (NCBs)
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The table below shows the ISINs that will be maintained by the CBF T2S Settlement Functionality Team:
Instrument
Type ISIN Name
Nominal
available
for
testing
Stock
Exchange
Processing
Bond DE000NRW1006 4,375 % LAND NRW SCHATZ07R790 29.04.G 1.000.000 Enabled
Bearer Share DE0005428007 COMDIRECT BANK AG 100.000 Enabled
Bearer Share DE0005634000 EASY SOFTWARE AG 100.000 Enabled
Table 1 - Dedicated ISINs for customer simulation period April and May 2018
As of 16 April 2018, participating customers can start to execute test cases and assess possible impacts on
their functional and organisational procedures. For this simulation period, the already existing static data for
CBF accounts and the related connectivity settings enabled in IMS23 will remain unchanged.
2.2 CBF customer simulation calendar
The following calendar covers the period from 16 April to 4 May 2018. It shows the availability of the CBF
Customer Simulation environment (IMS23) and highlights the “CCP batch days” as well as the execution days
related to the dedicated test cases.
The overall test schedule provided on the following page indicates the downtimes already defined for IMS23
or UTEST. If one of the environments is not available or the testing is limited because of particular measures
ensuring a proper test execution, there might be additional downtimes. CBF will inform customers about
such downtimes in due time via email to their contact nominated in the Customer Simulation Registration
Form.
Customers acting in DCP mode and connected to UTEST need to consider possible CBF downtimes while
executing their test cases. During these periods the T2S feedback might not be transmitted. This applies if
the related settlement processing requires a validation by CBF. However, the T2S reporting will be provided
upon message subscription and will contain the information according to the definition of T2S.
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Customer simulation calendar: CBF Release May and June 2018
Test Day Availability
of IMS23
CCP Simulation
Calendar
Dedicated Test Case
Focus Day
Monday 16-Apr-18 open
Taxbox testing is enabled during the entire
simulation period, that is until 4 May 2018.
Liquidity transfer setting are requested to
be checked by registered customers.
Preparation Focus Day:
REDM (Notification)
Tuesday 17-Apr-18 open
End-to-end testing for CBF Cash Forecast
is enabled until 26 April 2018
Preparation Focus Day:
DVCA (Notification)
Wednesday 18-Apr-18 open CCP Batch Day Preparation Focus Day:
REDM (End of interest period)
Thursday 19-Apr-18 open CCP Batch Day Focus Day:
REDM (Payment Date)
Friday 20-Apr-18 open until
14:00
Saturday 21-Apr-18 Weekend
Sunday 22-Apr-18 Weekend
Monday 23-Apr-18 open
Starting on / with this date, KUSTA Data
Carrier “CBF Customers” with the new
format is available on the Clearstream
website.
Tuesday 24-Apr-18 open CCP Batch Day
Preparation Focus Day:
BONU (Notification)
Preparation Focus Day:
DVCA (Ex Date)
Wednesday 25-Apr-18 open CCP Batch Day Preparation Focus Day:
DVCA (Record Date)
Thursday 26-Apr-18 open CCP Batch Day
End-to-end testing for CBF Cash Forecast;
customer simulation to be completed
Focus Day:
DVCA (Payment Date)
Friday 27-Apr-18 closed
Preparation of T2S Release 2.0:
Additional functionality will be deployed.
More details can be found in the
Appendix B.
Saturday 28-Apr-18 Weekend
Sunday 29-Apr-18 Weekend
Monday 30-Apr-18 open
Tuesday 01-May-18 closed Public Holiday in Germany / Luxembourg
Wednesday 02-May-18 open CCP Batch Day Preparation Focus Day:
BONU (Record Date)
Thursday 03-May-18 open CCP Batch Day Focus Day:
BONU (Payment Date)
Friday 04-May-18 open until
14:00
Table 2 - Customer simulation calendar for the period April and May 2018
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3. CBF Customer Simulation environment (IMS23)
The static data for CBF accounts and the related connectivity settings in IMS23 remain unchanged as for the
T2S Release 1.3 testing period in June 2017, if not modified on customer request for other test scenarios with
CBF.
3.1 Stock Exchange transactions (CCP / non-CCP)
Upon customer demand, stock exchange trades can be entered for settlement via LION or CASCADE. Trades
can be set up with a Market Identifier Code (MIC) in the trading system. If the flag
“XFRA” is used, they are forwarded as non-CCP trades towards the CBF system LION.
“XETR” is used, they are processed via CCP and clearing results will be provided to CBF for further
processing in CASCADE.
In general, the simulation environment of Eurex Clearing (ECAG) for CCP activities will be connected to the
CBF Customer Simulation environment (IMS23).
A list of eligible securities is available in the Eurex Clearing member section of the Eurex Clearing website
www.eurexclearing.com.
ECAG will forward test instructions to CBF in ICP mode. These instructions will be transmitted on the “CCP
Batch Days” only. The batch days defined by ECAG are shown in the table in section 2.2.
Once the CCP instructions arrive at CBF, they will be forwarded for settlement to UTEST. ECAG will delete
pending (unsettled) transactions according to their testing / batch day procedures.
Stock Exchange instructions processed via LION transactions will be supported during the period from
16 April to 30 April 2018.
Figure 1 - Process chain stock exchange instruction
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4. Execution of dedicated test cases
This chapter provides the detailed description of dedicated test cases for the customer simulation in the
period from 16 April to 4 May 2018. Each of the following sections provides a short summary of the
modifications. The detailed functional specification is available in Announcement D18012 “CBF Release
Information May and June 2018”2. If CBF requires information from the customer for the successful test
execution, these prerequisites are shown, too.
The availability of the T2S software changes in the T2S Pre-Production Environment (UTEST) is scheduled for
29 March 2018. Prior to the deployment of the software, T2S would like to clean the environment and reduce
the number of pending test instructions. Therefore, T2S will change the “recycling period” for pending
unmatched as well as matched customer instructions to “1”. Due to this purge activity, the duration of the
End of Day (EoD) processing using the event “EoD Recycling and Purging (EORP)”, might increase. As a
result, all pending instructions will be cancelled. Within this period, customers acting in ICP and / or DCP
mode will receive cancellation notice for each system-generated cancellation during the night-time
settlement (NTS). Once the deployment of T2S Release 2.0 in UTEST is completed, the parameter will be set
back to the current value.
During the test execution, each customer participating in the simulation is requested to consider that high
volume of pending instructions in UTEST impacts the performance of all T2S test environments. Therefore,
the customer should actively monitor the number of pending instructions and ensure that not more than 500
pending instructions are active in the test system. In order to determine the number all instructions must be
considered, independent from
The status, that is matched, unmatched, hold or release;
The business procedure, that is domestic and cross-border instructions, Stock Exchange trades
(via LION or CCP) and instructions resulting from corporate actions; or
The connectivity channel, that is ICP or DCP mode.
This limitation applies to all accounts (and sub-accounts) of a customer that are set up in the CBF Customer
Simulation environment (IMS23) for testing.
2 In case of updates customers are requested to use the latest version of the Release Information for their preparation of
test cases.
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4.1 Focus Days for corporate actions
With the CBF Release May 2018, CBF will enhance the corporate action processing (KADI) for the following
functional procedures:
Customers can enter or transmit OTC instructions (CASCADE instruction type AA01 / 02) with the ISO
transaction code “CLAI” (market claims). The current logic for the instruction management will
apply for these instructions, too. Customers can modify and cancel their instructions setup with
“CLAI” the way as for other OTC instruction. However, these instructions are not subject to the CBF
passive matching service and need to be flagged with the OPT / OUT indicator, if they should be
excluded from the transformation or claims processing.
During the 20 days3 transformation detection period instructions entered or transmitted by CBF
customers acting in ICP and / or DCP mode will be accepted by T2S. These instructions can be
matched at T2S, but only instructions provided by a CSD (transformed instructions) or PFoD
instructions sent by a CCP can achieve final settlement. At the end of the transformation detection
period, all remaining instructions will be rejected. The related error code has been updated by T2S.
In order to allow testing for the above-mentioned functional enhancements, three custody events are
defined. The event details can be found on the following pages. The test execution is only possible when the
customer registered for the simulation and CBF will enable the necessary holdings. For more information on
the creation of holdings, please refer to section 2.1.
The testing of market and reverse claims and transformations requires pending instructions. Customer are
requested to set up their business cases:
Via CASCADE to create OTC instruction; or
Via a trading system with the Market Identifier Code (MIC)
o XFRA to allow a settlement via LION; or
o XETR to enable a clearing via the CCP.
The details about the process chain for stock exchange instructions are available in section 3.1.
3 This detection period of 20 business days is also valid in UTEST.
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4.1.1 Redemption (REDM)
General information for maturity without interest payment
Redemption of a bond on the RTGS account in DD cycles with optional liquidity transfer
Focus Day: 19 April 2018
1) The redemption cash payment will be posted on the RTGS account in the CBF DD1 cycle according to the
T2 ASI procedure 3
2) Transformation in cash, if there is an existing pending OTC (FoP /DvP) instruction and / or Stock Exchange
trade in the underlying security. The transaction and redemption amounts are paid separately in CBF DD cycles
(DD1 or DD2). The original underlying instruction is cancelled following the transformation (in the simulation
this is handled once the event is processed).
3a) CBF reporting to customers acting in ICP mode
3b) T2S (DCP) reporting via sese.023, sese.024 and sese.025 CORP
4) Optional – Customers might create new settlement instructions after the maturity date.
Precondition:
Securities position:
CBF provides an initial setup of holdings on each main account (XXXX 000) participating in the simulation
after the downtime starting on 9 April 2018, if requested by the customer.
Customers must ensure that they have sufficient holdings in the respective ISIN on their CBF accounts
in order to successfully test this non-income event.
Event notification via MT564:
The event notification will be provided as shown below in the event details.
Claims period:
The detection period is 20 days in UTEST.
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Detailed information for maturity without interest payment
CA events details Reporting type Report Send date /
online availability
Event type:
130 (Redemption)
SWIFT event ID:
REDM
ISIN:
DE000NRW1006
Name:
4,375 % LAND NRW
SCHATZ07R790 29.04.G
Security type:
Bond
Redemption rate:
100 (Currency: EUR)
CBF entitlement day:
18 April 2018
Value / Payment date:
19 April 2018
ICP mode:
ISO 15022
MT564 Notification
For the processing of
position:
16 April 2018
For market claims:
during 5-day claims period
MT566 Confirmation “CLAI“ For the processing of
position:
on payment date
For market claims:
during 5-day claims period
For redemption of security
position:
MT942 / 950 Cash
reporting
On payment date
CASCADE-HOST /
CASCADE-PC
KVDU (movements)
KVBA-BB (positions per
ISIN)
movements / positions
- movements - booked
- positions – final
CASCADE Online opening
hours from value / payment
day onwards
DCP mode:
ISO 20022
sese.025 (Settlement) According to T2S UTEST
operational day
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4.1.2 Bonus Share (BONU)
General information for a Bonus Share (BONU) processed according to the Record Date logic
Focus Day: 3 May 2018
1) Security distribution with FoP credits for position on Record Date processed and forwarded to T2S for Night-
Time Settlement (NTS)
2a) Processing of market and reverse claims only if there are existing pending OTC instructions and Stock
Exchange trades in the underlying security which settle after their regular intended settlement day during the
claims period and only if OTC instructions are not excluded from the claims process
2b) For market claims FoP instructions are generated and forwarded to T2S for Real Time Settlement (RTS) several
times during the day depending on when the underlying transaction has settled.
2c) For reverse claims FoP instructions are generated and forwarded to T2S for Night-Time Settlement (NTS) only.
3a) CBF reporting to customers acting in ICP mode
3b) T2S (DCP) reporting via sese.023, sese.024 and sese.025 CORP
Precondition:
Securities position:
CBF provides an initial setup of holdings on each main account (XXXX 000) participating in the simulation
after the downtime starting on 9 April 2018, if requested by the customer.
Customers must ensure they have sufficient holdings in the respective ISIN on their CBF accounts in order
to successfully test this non-income event.
Event notification via MT564:
The event notification will be provided as shown below in the event details.
Claims period:
CBF defined a claims period of 5 days.
Customer action:
Market and reverse claims:
Customers must decide whether they want to simulate market or reverse claims related to the Bonus
Share. If so, customers must enter Domestic OTC DvP or FoP instructions with the respective instruction
details. They must adhere to the CBF compensation rules to be considered in the claim process.
Market and reverse claims are reported in ICP mode and DCP mode. Customer can is still overrule the
general Record Date criteria to generate claims by using respective flags (OPT / OUT flag / Cum / Ex-flag)
within their OTC instructions.
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Detailed information for the event Bonus Share (BONU) processed according to the Record Date logic
CA event details Connectivity Type Report Send date /
Online availability
Event type:
211 (BONU)
SWIFT Event ID:
BONU
Mandatory event
ISIN Code:
DE0005634000
Name:
Easy Software AG
Security type:
Bearer Share
Ratio:
2 for 5
Record day:
2 May 2018
Value / payment date:
3 May 2018
ICP mode:
ISO 15022
MT564 Notification For the processing of
position:
24 April 2018
For market claims:
During 5-day claims period
MT566 Confirmation “CLAI“ For the processing of
position:
On payment date
For market claims:
During 5-day claims period
CASCADE-HOST
CASCADE-PC
KVDU (movements)
KVBA-BB (positions per ISIN)
movements / positions
- movements - booked
- positions – final
CASCADE Online opening
hours from value / payment
day onwards
DCP mode:
ISO 20022
sese.025 (Settlement) According to T2S UTEST
operational day
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4.1.3 Dividend (DVCA)
General information for dividend payment
Dividend payment on the RTGS account in DD cycles based on the Record Date logic with optional Liquidity
Transfer
Focus Day: 26 April 2018
1a) Dividend cash payment for position on the RTGS account in the CBF DD1 cycle according to the T2 ASI
procedure 3 based on the Record Date logic
1b) Generation of market claims and reverse claims in DD cycles (DD1 / DD2) only if there is an existing pending OTC
(FoP / DvP) instruction or Stock Exchange trade in the underlying security which settle after their regular intended
settlement day during claims period and only if OTC instructions are not excluded from the claims process
2) Optional CBF service for customers in ICP mode to transfer the dividend fund which they have received on
their RTGS account within the CBF DD1 cycle from the RTGS account in TARGET2 to a DCA in T2S. This liquidity
transfer can be set up online in CASCADE-HOST / CASCADE-PC as a single or a standing instruction.
3a) CBF reporting for customers in ICP mode
3b) Settlement reporting regarding market claims for customers in DCP mode
Precondition:
Securities position:
CBF provides an initial setup of holdings on each main account (XXXX 000) participating in the simulation
after the downtime starting on 9 April 2018, if requested by the customer.
Customers must ensure they have sufficient holdings in the respective ISIN on their CBF accounts in
order to test successfully the income event.
Event notification (for example, via MT564):
The event notification is provided at the earliest five days before the event takes place.
Claims period:
CBF defined a claims period of 5 days.
Customer action:
Market claims and reverse claims:
Customers must decide whether they want to simulate claims handling regarding dividend payments.
If so, customers must instruct in CASCADE domestic OTC instructions with the respective instruction
details. These instructions have to adhere to the CBF compensation procedure rules in order to be
considered in the compensation process.
Automatic Liquidity Transfer from the RTGS account to the DCA account:
Customers have the possibility to initiate the liquidity transfer from their RTGS account to their DCA
account after the CBF DD1 cycle on payment date by submitting these transfers in CASCADE-HOST with
KVEE / EL or DL or via CASCADE-PC in the folder “cash”- instructions / standing instructions.
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Detailed information for the test case Dividend (DVCA)
CA event details Reporting types Report Send date /
online availability
Event type:
120 (Dividend)
SWIFT Event ID:
DVCA
ISIN code:
DE0005428007
Name:
COMDIRECT BANK AG
Security type:
Bearer Share
Dividend amount:
1,05 (Currency: EUR)
Payment period:
1 January 2017 –
31 December 2017
Ex date:
24 April 2018
Record day:
25 April 2018
Value / Payment date:
26 April 2018
ICP mode:
ISO 15022
MT564 / MT568 notification
(custody reporting per
individual ISIN for position
and per market claim)
For the processing of
position:
17 April 2018
For market claims:
During 5-day claims period
MT566
(custody reporting per
individual ISIN for position
and per market claim)
On payment date for
position
For market Claims:
During 5-day claims period
Only for security position:
MT942 / 950 Cash reporting
On payment date
HOST File Service For the processing of
position:
Custody (KADI) Reports
(per individual ISIN
position)
For market claims:
Custody (KADI) Report
KV111 (per individual ISIN)
Only for market claims:
daily cash statement /
Geldtagesauszug
On payment date
During 5-day claims period
During 5-day claims period
CASCADE-HOST
CASCADE-PC
For the processing of
position:
KVGI-KE
(under booking cycle ‘1’
per individual ISIN)
KNZI-ID
(per individual ISIN)
For market claims:
KVGI-KO
(under booking cycles
‘1’ or ‘2’ per individual
ISIN)
KNZI-ID
(per individual ISIN)
For the processing of
position and markets
claims:
Custody services and
other payments
CASCADE Online opening
hours:
from payment day onwards
During five days claims
period
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4.2 Cash Forecast
The CBF Cash Forecast will be enriched in line with the modifications defined for T2S CR 540 “Alignment of
U2A and A2A cash forecast information”.
Today, the cash forecast report displays a separate sum for the current and the following business day. The
sum is a result of the pending matched delivery and receive against payment instructions in Euro. In future,
there will be each time a total for pending matched delivery against payment instructions and a total for
pending matched receive against payment instructions.
On 16 April 2016, customers using CBF Liquidity Management services can check if they would like to update
standing instructions in IMS23. Only if these parameters and the respective T2CUST RTGS account are in
place, liquidity transfers can be initiated by CBF. A further processing towards T2S DCA on UTEST depends
on the test setup of the respective NCB.
For the management of liquidity transfers the following transactions and functions can be used:
Transaction/function Instruction type Functionality
KNEE – EL (new) Single Entry
KNEE – DL (new) Standing Entry
KNEA – AN Single Modification
KNEA – DA Standing Modification
KNEA – LN Single Deletion
KNEA – DL Standing Deletion
KNGI – IG Single Information
KNGI – ID Standing Information
Table 3 - Screens for liquidity transfers
In the period from 17 to 26 April 2018, customers can check their liquidity requirements via the CASCADE
Online functionality by using the transaction “KUCF”.
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4.3 T2S Auto-Coll on main account
The T2S Auto-Collateralisation (T2S Auto-Coll) service provides automatically collateralised intraday
liquidity when there is not enough liquidity provisioned on a Dedicated Cash Account (DCA) to settle a
delivery versus payment transaction.
Customers that would like to start using the T2S Auto-Coll service via an existing CBF main account must
consider that a transformation of the account will become necessary. That is, that the account will be
updated to reflect the earmarking flag “EEUR” or “EXXX”. Additionally, the position type for all holdings is
requested to be modified. This transformation requires an interaction with the T2S settlement platform for
the static data of the securities account (SAC) as well as the earmarking for existing holdings and pending
instructions.
CBF will support a simulation of the transition tasks and procedures. Similar to production a dedicated test
execution plan considering the timeline, number of holdings and pending instructions needs to be set up
individually for each CBF customer.
Interested customers can provide a simulation request via email to the Clearstream Connectivity Support
team ([email protected]). The simulation request shall include the following details:
Settings for envisaged simulation Format
CBF account master 4 digits
CBF sub-account for T2S Auto-Coll service 7 digits
NCB responsible for Dedicated Cash Account (DCA) Name
DCA used for customer simulation with CBF Number of DCA
Third Party Management (Head Office) enabled Yes / No
Message types used for maintenance of registered shares List of messages
Participation in LION Yes / No
Eurex Clearing Member Yes / No
Preferred simulation period Start date / end date
Table 4 – Details of the simulation request related to T2S Auto-Coll on main account
The CBF T2S Settlement Functionality Team will collect the simulation requests for T2S Auto-Coll on main
account and will agree on the timeline with the involved participants and T2S Actors.
March 2018 Clearstream Banking Frankfurt
20 Customer Simulation Period April and May 2018
4.4 KUSTA Data Carrier “CBF Customers”
In November 2017, CBF started with the reorganisation activities of the KUSTA Data Carrier
(KUSTA Datenträger). This initiative has been set up, as a number of information presented in the file is
no longer needed because of the processing with T2S. Hence, the KUSTA Data Carrier ”Markets” will be
removed from production. Additionally, the KUSTA Data Carrier “CBF Customers” will be transmitted
with a new format and structure. The final layout is available in Announcement D18012 “CBF Release
Information May and June 2018”4.
In order to allow a testing, CBF will provide a test files for the KUSTA Data Carrier “CBF Customers”.
The following files will be made available as
Full report;
Delta report;
Internet version.
On 23 April 2018, these test files will be available on the Clearstream website under Testing and Simulation
(for Premium users only).
CBF is going to provide test data in the different report types. That is, the data differs from the information
that is available for the account master details in production.
4 In case of updates customers are requested to use the latest version of the Release Information for their preparation of
test cases.
Clearstream Banking Frankfurt March 2018
Customer Simulation Period April and May 2018 21
4.5 Taxbox
In 2017, the Taxbox service was prepared for enhancements linked to the German Investment Tax
Reform Act (InvStRefG). With the CBF Release May 2018, additional data fields will be introduced.
Taxbox will support partial exemption quota (“Teilfreistellungsquoten”) applicable to mixed funds,
equity funds as well as domestic and foreign real estate funds.
Further fields are introduced to flag the purchase of millionaire funds (“Millionärsfonds”) and to
indicate deemed disposals after 31 December 2017. The related functional and technical details are
available on the Clearstream website under Clearstream Products and Services / Asset services / Tax
and certification / Taxbox.
From 16 April to 4 May 2018, a simulation phase for Taxbox participants to test the service extensions will be
offered. Participants are requested to prepare for the test execution and define business test cases for data
transfers to other participating institutions.
The settlement of free of payment (FoP) instructions is not the focus of this simulation phase and can be
executed on customer demand via the different STP (straight-through processing) connectivity channels or
the Online functionality in ICP and / or DCP mode.
During the simulation phase, CBF will facilitate the technical data transfer between Taxbox participants, if
the related bank identifier codes (BIC or BLZ) are established and listed in the respective routing table of the
CBF message configuration. Participants are therefore requested to validate and update the routing table, if
needed.
In order to allow a routing of Taxbox messages to the IMS23 environment, the header of the XML message
must be set up with the following details:
CBF’s Test BIC: <RecKey>DAKVDEF0XXX</RecKey>
Customer’s Test BIC: <SndKey>BNKDEFM0XXX</SndKey>
Test indicator: <TstInd>true</TstInd>
March 2018 Clearstream Banking Frankfurt
22 Customer Simulation Period April and May 2018
5. Contact
During the preparation and the execution of the customer simulation period from 16 April to 4 May 2018,
please contact our Connectivity Support teams ([email protected]) for any questions
regarding the dedicated test cases.
Particular questions related to the setup and test data as well as the test results will be routed to the T2S
Settlement Functionality Team. During the customer simulation period, this team will be available from 09:00
to 16:00.
Clearstream Banking Frankfurt March 2018
Customer Simulation Period April and May 2018 23
Appendix A - CBF processing day in customer simulation
The following table shows the CBF schedule for core activities, reporting times and deadlines within the “T2S
Synchronised Standard Day”.
T2S Activity CBF Activity Application /
system
Timing Further details
Start of T2S
Testing
T2S 07:00
Maintenance Window / End CBF 07:00
CASCADE Online / Start CASCADE 07:00
CASCADE Reporting
MT537 – Statement of
pending transaction
MT586 – Statement of
Allegements
CASCADE 07:30
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
MT537 – Statement of
pending transaction
MT586 – Statement of
Allegements
CASCADE 08:00
Partial
Settlement
Window 1 / Start
T2S 08:00
Partial
Settlement
Window 1 / End
T2S 08:15
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
MT537 – Statement of
pending transaction
MT586 – Statement of
Allegements
CASCADE 09:00
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
CASCADE 10:00
Partial
Settlement
Window 2 / Start
T2S 10:00
DD1 Cycle, followed by
optional generation of
Liquidity Transfers from
RTGS to DCA
CASH 10:10 Will be supported in
the period from
16 April to 4 May 2018
Partial
Settlement
Window 2 / End
T2S 10:15
Reporting
MT564 – Notification
MT566 – Confirmations
(Income + Non-Income)
MT568 – Narrative
KADI 10:30
KADI Non-Income:
instruction of Market
Claims on settled
underlyings
KADI 10:30
CASCADE Reporting
MT537 – Statement of
pending transaction
MT586 – Statement of
Allegements
CASCADE 10:30
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
CASCADE 11:00
March 2018 Clearstream Banking Frankfurt
24 Customer Simulation Period April and May 2018
T2S Activity CBF Activity Application /
system
Timing Further details
CASCADE Reporting
MT537 – Statement of
pending transaction
MT586 – Statement of
Allegements
CASCADE 11:15
KADI Reporting
MT566 – Confirmations
(Income)
KADI 11:30
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
MT537 – Statement of
pending Transactions
MT586 – Statement of
Allegements
CASCADE 12:00
Partial
Settlement
Window 3 / Start
T2S 12:00
Partial
Settlement
Window 3 / End
T2S 12:15
KADI Non-Income:
instruction of Market
Claims on settled
underlyings
KADI 12:25
Partial
Settlement
Window 4 / Start
T2S 12:30
Partial
Settlement
Window 4 / End
T2S 12:45
CASCADE Reporting
MT537 – Statement of
pending Transactions
MT586 – Statement of
Allegements
CASCADE 12:45
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
CASCADE 13:00
DD2 Cycle, followed by
Optional generation of
Liquidity Transfers from
RTGS to DCA
CASH 13:25 Will be supported in
the period from
16 April to 4 May 2018
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
MT537 – Statement of
pending Transactions
MT586 – Statement of
Allegements
CASCADE 13:30
KADI-Reporting
MT564 – Notification
MT566 – Confirmations
(Income + Non-Income)
MT568 – Narrative
KADI 14:00
Partial
Settlement
Window 5 / Start
T2S 14:15
Deletion of pending CCP-
instructions
CBF 14:15
DD3 Cycle, followed by
Optional generation of
Liquidity Transfers from
RTGS to DCA
CASH 14:15 Will be supported in
the period from
16 April to 4 May 2018
Clearstream Banking Frankfurt March 2018
Customer Simulation Period April and May 2018 25
T2S Activity CBF Activity Application /
system
Timing Further details
Partial
Settlement
Window 5 / End
T2S 14:30
DvP/Cash SR
Cut-Off
T2S 14:30 In the context of the
CBF Cash Forecast
reporting, in the
simulation, the T2S
event “IDVP” is used to
generate the T2S Cash
Forecast towards
IMS23
Collateral
Reimbursement
T2S 14:50
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
CASCADE
15:00
KADI-Reporting
MT566 – Confirmations
(Income)
KADI 15:00
Cash Forecast for Night
Time Processing
CASH 15:00
BATM/CBO Cut-
Off
T2S 15:10
Inbound LTO
cut-off and
Automatic Cash
Sweep
T2S 15:15
Acceptance of
FoP instruction /
End (FoP cut-off)
T2S 15:30
End of Day
Processing
T2S 15:30
CASCADE Reporting
MT537 – Statement of
pending Transactions
MT586 – Statement of
Allegements
CASCADE
15:30
CASCADE End of day
Processing
CASCADE
15:30
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
MT537 – Statement of
pending Transactions
MT586 – Statement of
Allegements
CASCADE
after T2S End
of Day
Processing
CASCADE Reporting via
HOST File Service
Daily Cash Report
(“Geldtagesauszug”)
CASCADE
after T2S End
of Day
Processing
Cash Reporting:
MT942 – EUR Cash
Clearing Report
MT950 – EUR Cash
Clearing Report
CASH after T2S End
of Day
Processing
CASCADE Reporting via
HOST File Service
Settlement List
(“Regulierungliste”)
Daily Account Statement
(“Depotauszug”)
CASCADE after the end
of T2S
business day
March 2018 Clearstream Banking Frankfurt
26 Customer Simulation Period April and May 2018
T2S Activity CBF Activity Application /
system
Timing Further details
Reporting via HOST File
Service: KV133001 /
KV140001 / KV257001
(various matching status) /
KV 259001 (trades affected
by custody events)
CASCADE after the end
of T2S
business day
Cash Management:
Deadline for entry, deletion
or modification of Liquidity
Transfer for following NTS
CASH
16:00
Start of Day
Processing /
Change of
Business Day
T2S 16:15
CBF: Start of Day CBF: Start of Day 16:15
LION Online / Start (after
reorganisation)
CBF: LION Online 16:15
KADI-Reporting
MT564 – Notification
MT566 – Confirmations
(Non-Income)
MT568 - Narrative
KADI
16:15
Cash Management:
Optional generation of
Liquidity Transfers from
RTGS to DCA based on
CBF Cash Forecast
CASH
16:30
Night Time
Settlement /
Start
T2S 17:00
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
MT537 – Statement of
pending Transactions
MT586 – Statement of
Allegements
CASCADE 17:00
Night Time
Settlement / End
T2S ca. 17:40
T2S: Early Real
Time Settlement
/ Start
T2S ca. 17:40
KADI-Reporting
MT564 – Notification
MT566 – Confirmations
(Non-Income)
MT568 – Narrative
KADI 18:00
Early Real Time
Settlement / End
T2S 19:00
Maintenance
Window / Start
T2S 19:00
Testing / End T2S 19:00
Maintenance
Window / End
T2S Ca. 19:10
Real Time
Settlement /
Start
T2S Ca. 19:10
KADI-Reporting
MT564 – Notification
MT568 – Narrative
KADI 19:30
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
CASCADE 20:00
Clearstream Banking Frankfurt March 2018
Customer Simulation Period April and May 2018 27
T2S Activity CBF Activity Application /
system
Timing Further details
CASCADE Reporting
MT535 – Statement of
Holdings
CASCADE 21:30
KADI-Reporting
MT564 – Notification
MT566 – Confirmations
(Non-Income)
MT568 - Narrative
KADI 23:00
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
MT537 – Statement of
pending Transactions
MT586 – Statement of
Allegements
CASCADE ca. 23:00
CASCADE Reporting
MT537 – Statement of
Pending Transactions
MT586 – Statement of
Allegements
CASCADE 23:45
Reporting
MT536 – Clearing &
Settlement Statement
MT537 – Statement of
Pending Transactions
MT586 – Statement of
Allegements
CASCADE 02:00
CASCADE Online / End CBF: CASCADE
Online / End
03:00
Maintenance Window /
Start
CBF:
Maintenance
Window / Start
03:00
CASCADE Reporting
MT537 – Statement of
pending transaction
MT586 – Statement of
Allegements
CASCADE 05:00
CASCADE Reporting
MT536 – Clearing &
Settlement Statement
MT537 – Statement of
Pending Transactions
MT586 – Statement of
Allegements
CASCADE 06:00
KADI-Reporting
MT564 – Notification
MT566 – Confirmations
(Income + Non-Income)
MT568 – Narrative
KADI 06:00
Maintenance
Window / End
T2S 07:00
Table 5 - CBF processing day in IMS23
March 2018 Clearstream Banking Frankfurt
28 Customer Simulation Period April and May 2018
Appendix B - T2S Deployment Schedule
Together with the CBF Release Information May and June 2018, CBF provided two lists5:
T2S Release 2.0 Overview CRs Version 1.0;
T2S Release 2.0 PBIs Version 1.0.
These lists show the latest descriptions of the related T2S Change Requests (CRs) and Problem Tickets
(PBIs) that might have impact on CBF customers acting in ICP and / or DCP mode.
The table below shows the software deployment dates for the related CRs and PBIs. During the preparation
of the test cases, customers are requested to consider that not all T2S software components will be available
with the start of the CBF customer simulation period.
Related Number CR / PBI Package Deployment to UTEST
T2S-0655-SYS CR 1 29.03.2018
T2S-0358-URD CR 1 29.03.2018
PBI 201822 PBI 1 29.03.2018
PBI 201485 PBI 1 29.03.2018
PBI 200459 PBI 1 29.03.2018
PBI 200445 PBI 1 29.03.2018
PBI 200410 PBI 1 29.03.2018
PBI 200044 PBI 1 29.03.2018
T2S-0667-SYS CR 2 29.03.2018
T2S-0666-SYS CR 2 29.03.2018
T2S-0650-SYS CR 2 29.03.2018
T2S-0649-SYS CR 2 29.03.2018
T2S-0648-SYS CR 2 29.03.2018
T2S-0645-SYS CR 2 29.03.2018
T2S-0640-SYS CR 2 29.03.2018
T2S-0632-SYS CR 2 29.03.2018
T2S-0588-SYS CR 2 29.03.2018
T2S-0562-SYS CR 2 29.03.2018
T2S-0540-SYS CR 2 29.03.2018
T2S-0446-SYS CR 2 29.03.2018
PBI 202226 PBI 2 29.03.2018
PBI 201996 PBI 2 29.03.2018
PBI 200181 PBI 3 29.03.2018
PBI 202433 PBI 4 29.03.2018
PBI 202186 PBI 4 29.03.2018
PBI 202185 PBI 4 29.03.2018
PBI 201242 PBI 4 29.03.2018
PBI 200400 PBI 4 29.03.2018
PBI 200360 PBI 4 29.03.2018
5 In case of updates customers are requested to use the latest version of the Release Information for their preparation of
test cases.
Clearstream Banking Frankfurt March 2018
Customer Simulation Period April and May 2018 29
Related Number CR / PBI Package Deployment to UTEST
PBI 160693 PBI 4 29.03.2018
PBI 202464 PBI 5 27.04.2018
PBI 202413 PBI 5 27.04.2018
PBI 202364 PBI 5 27.04.2018
PBI 202126 PBI 5 27.04.2018
PBI 200933 PBI 5 27.04.2018
PBI 200427 PBI 5 27.04.2018
PBI 201233 PBI 5 27.04.2018
PBI 202529 PBI 6 27.04.2018
PBI 202200 PBI 6 27.04.2018
PBI 202191 PBI 6 27.04.2018
PBI 201620 PBI 6 27.04.2018
PBI 201527 PBI 6 27.04.2018
PBI 200343 PBI 6 27.04.2018
T2S-0663-SYS CR 7 27.04.2018
T2S-0621-SYS CR 7 27.04.2018
T2S-0515-URD CR 7 27.04.2018
PBI 202345 PBI 7 27.04.2018
PBI 202069 PBI 7 27.04.2018
PBI 201910 PBI 7 27.04.2018
PBI 201264 PBI 7 27.04.2018
PBI 200047 PBI 7 27.04.2018
PBI 201508 PBI 8 27.04.2018
PBI 161307 PBI 8 27.04.2018
T2S-0660-SYS CR LTSI6 06.07.2018
PBI 202112 PBI
No date available yet
Table 6 – T2S software deployment dates for the related CRs and PBIs in UTEST
6 LTSI = T2S event “Long Term Statistical Information”
March 2018 Clearstream Banking Frankfurt
30 Customer Simulation Period April and May 2018
Appendix C – Setup of domestic OTC settlement instructions
The following table provides customers the information required to enter OTC settlement instructions during
the simulation.
General information for settlement Domestic OTC Free of Payment and against payment Euro instructions
in NTS and RTS (OTC DFoP / RFoP, PFoD debit / credit, DvP / RvP Euro and DwP / RwP Euro)
Instruction entry Reporting
type
Report, if ordered by
customers for IMS23
Send date /
online
availability
Type
DFoP/
DvP
(DwP)
RFoP/
RvP
(RwP)
CASCADE
-HOST /
PC
KVEE-WE/
OTC -
enter
delivery
KVEK /
OTC –
unverified
instructio
ns – verify
KVEE-MI /
OTC –
enter
receipt
KVEK /
OTC –
unverified
instructio
ns – verify
PFoD
debit as
RvP with
nominal =
0
PFoD
credit as
DvP with
nominal =
0
ISO
15022
(ICP)
MT542/
MT543
MT540/
MT541
see DvP
(PFoD
DELI /
RvP
(PFoD
RECE)
ISO 20022
(DCP)
sese.023
DELI with
FREE or
with APMT
and CRDT
sese.023
RECE with
FREE or
with APMT
and DBIT
see DvP/RvP
ISO 15022
(ICP)
MT548 (Status reporting) Real-time
MT545 - MT547
(Deliver / Receive Free
confirmation -
Deliver / Receive against
payment confirmation
Real-time
MT578
(Settlement Allegement)
Real-time
MT535
(Statement of Holdings)
End of Day
(EoD)
MT536
(Statement of settled
Transactions / Clearing &
Settlement Statement
(C&S Statement)
End of Day
(EoD):
complete or at
predefined
sending times
(Delta)
MT537
(Pending CASCADE OTC
instructions)
Daytime: hourly
Night-time:
At predefined
times or events
MT586
(Statement of
Allegements)
Daytime: hourly
Night-time:
at predefined
times or events
CASCADE
HOST
CASCADE
PC
KVDU-ID (movements)
KVBA-BB
(Positions per ISIN)
KVAI
(Pending verified
instructions)
movements / positions
- movements – booked
movements
- final positions
OTC-pending instructions
CASCADE
Online opening
hours
ISO 20022
(DCP)
See Connectivity Handbook DCP
Clearstream Banking Frankfurt March 2018
Customer Simulation Period April and May 2018 31
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